abrdn plc Sells 98,221 Shares of The AZEK Company Inc. (NYSE:AZEK)

abrdn plc cut its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 17.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 450,292 shares of the company's stock after selling 98,221 shares during the period. abrdn plc owned about 0.31% of AZEK worth $21,601,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AZEK. ORG Wealth Partners LLC purchased a new position in AZEK in the third quarter valued at about $31,000. Farther Finance Advisors LLC grew its stake in shares of AZEK by 183.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company's stock worth $35,000 after acquiring an additional 487 shares during the period. Paladin Wealth LLC purchased a new stake in AZEK in the 3rd quarter worth about $39,000. GAMMA Investing LLC raised its stake in AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company's stock valued at $40,000 after acquiring an additional 239 shares during the period. Finally, Blue Trust Inc. lifted its holdings in AZEK by 106.4% during the third quarter. Blue Trust Inc. now owns 931 shares of the company's stock valued at $44,000 after purchasing an additional 480 shares during the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AZEK

In other news, CEO Jesse G. Singh sold 20,000 shares of the business's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $53.32, for a total transaction of $1,066,400.00. Following the completion of the transaction, the chief executive officer now directly owns 923,765 shares in the company, valued at approximately $49,255,149.80. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Samara Toole sold 1,709 shares of AZEK stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total value of $90,577.00. Following the transaction, the chief marketing officer now owns 16,632 shares in the company, valued at approximately $881,496. This represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,322 shares of company stock valued at $2,039,170 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

AZEK Stock Down 0.2 %

AZEK stock opened at $49.99 on Tuesday. The company has a current ratio of 2.56, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31. The firm has a market cap of $7.15 billion, a PE ratio of 50.49, a PEG ratio of 2.19 and a beta of 1.94. The company has a fifty day simple moving average of $50.17 and a 200 day simple moving average of $46.49. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Sell-side analysts anticipate that The AZEK Company Inc. will post 1.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AZEK shares. Truist Financial increased their target price on AZEK from $52.00 to $57.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. The Goldman Sachs Group upped their target price on AZEK from $52.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Benchmark reissued a "buy" rating and set a $55.00 price objective on shares of AZEK in a report on Thursday, November 21st. Royal Bank of Canada increased their price target on shares of AZEK from $50.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Finally, DA Davidson lifted their price target on shares of AZEK from $44.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $54.85.

AZEK Profile

The AZEK Company Inc engages in the design, manufacturing, and selling of building products for residential, commercial, and industrial markets in the United States and Canada. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, such as decking, railing, trim and molding, siding and cladding, pergolas and cabanas, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, ULTRALOX, StruXure, and INTEX brands.